Saks Finalises Acquisition of Neiman Marcus Group
The $2.7 billion merger counts Amazon, G-III Apparel Group and Authentic Brands Group as investors.
china / Consumers
Op-Ed | What’s Behind the Slump in China’s Luxury Sales?
The key question is whether the drop is due to a weakening economy or a shift in consumer perception towards luxury items as mere commodities.
Chinese Swap Handbags for Trips as ‘Experience Economy’ Booms
Amid China’s market struggles, a broader trend of shifting consumption towards services and unique experiences is emerging, despite ongoing challenges like modest income growth and declining home prices.
How China’s Fashion Industry Is Leveraging the Olympics
From sportswear giants Anta and Peak to cosmetic brands Maogeping and Chando, Chinese companies placed their marketing bets on team uniforms, athlete endorsements and themed products.
China Uncertainty Clouds Outlook for Luxury Sector
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
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Where to Engage Shoppers This Chinese New Year
While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
Why Chinese Brands Excel at Down Jackets
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.
China’s Luxury Market Set for Moderate Growth
Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.
Hong Kong Luxury Retailers Adjusting to Drop In High-Spending Chinese Tourists
The rise of competing shopping hubs like China’s Hainan island, changing consumer preferences and a rise in online shopping have fundamentally changed demand for luxury goods in Hong Kong.
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Redrawing China’s Fashion Retail Map
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
Worldview: Why China’s E-Commerce Giants Withheld Singles’ Day Results
This week’s round-up of global markets fashion business news also features Russian diamonds, Botswana’s gem trading investment and India’s Diwali fashion ads.
TikTok’s New Amazon Copycat Is Full of Cheap Chinese Goods
The app’s Shop feature, which has gone live for some US users, is plagued by the same problems with a free-for-all marketplace Amazon has faced.
How Worried Should Fashion Be About China’s Weakened Economy?
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
The News in Brief
Model Rights Bill Signed into Law in New York
The new law will give models working in the state greater protection from exploitation, harassment and AI.
L’Oréal Acquires South Korea’s Dr.G in Skincare Deal With Migros
French cosmetics giant L’Oréal said on Monday it had agreed to buy Gowoonsesang Cosmetics, which includes South Korean skincare brand Dr.G., from Swiss retailer Migros.
Boohoo Shareholders Vote to Block Mike Ashley From Joining Board
Investors representing 64% of Boohoo’s stock voted against appointing Ashley and Mike Lennon at a special meeting on Friday morning called by Ashley’s Frasers Group.
Walmart Says to Miss Climate Targets as Green Challenges Mount
Previous pledges to reduce operational greenhouse gas emissions by 65% by 2030 and 35% by 2025 are probably not achievable, and the company will consider reviewing its climate targets next year.
Lilly’s US Weight-Loss Drug Shortage Ends, Curtailing Copycats
Sales of cheaper compounded versions must stop within 90 days. Novo’s rival shots, Ozempic and Wegovy, remain in short supply.
Prada Group and EssilorLuxottica Renew Ten-Year Eyewear License
Building on an existing twenty-year partnership, Prada Group and the Franco-Italian eyewear conglomerate EssilorLuxottica have renewed their licensing agreement for ten years.
Sofie Pavitt Face Gets Picked Up By Sephora
The “acne whisperer” for A-list Gen Z celebrities inks her biggest retail partnership yet.